Binance has added two digital assets to the Binance Loans platform so that more traders can obtain funds through the platform. These digital assets are BAL and BAND. Binance has made this particular announcement official on its website. Binance Loans is a helping hand from Binance that supports cryptocurrency assets with interest rates, loan limits, and collateral assets. However, the products’ availability depends on market conditions and internal risk management. Customers who register with Binance are eligible to apply for these loans. However, there are no restrictions for those who have not registered with the exchange platform. Among the accepted cryptocurrencies for Binance Loans are BTC, ETH, BNB, etc. Binance recently added BAL and BAND to its supported cryptocurrencies following this announcement. The loan terms vary across five categories, with durations of seven days, fourteen days, thirty days, ninety days, and one hundred and eighty days. In addition, there is full repayment of the loan before the due date without incurring any penalties or additional interest fees. The loan’s interest calculation is per hour as soon as the registered user starts using the loan. Customers must increase the amount of BNB collateral loans if their individual LTV (loan-to-value ratio) is more significant than their marginal LTV. Depending on market conditions, Binance Loans may require loan repayment in place of additional collatera...
